Corporate Franchise Tax

Most corporations engaged in business in Mississippi are subject to franchise tax, as levied in Sections 27-13-5 and 27-13-7 of the Mississippi Code. Franchise tax is a tax that is assessed on the company’s capital value. The capital value for the corporation is calculated based on:

For multi-state corporations, capital is pro-rated and applied to the corporation’s total capital value to calculate the amount of capital to be apportioned to Mississippi. The apportioned capital is then multiplied by the franchise tax rate to determine the Mississippi franchise tax liability.

Officials from Multicraft International, state and local leaders recently celebrated the grand opening of the company's new division, Multicraft Ventures, LLC, in Pelahatchie. The project is a $2 million corporate investment and creates 50 jobs.

Gov. Phil Bryant and officials from global automotive supplier Calsonic Kansei announced the company’s expansion in Madison. The $16.33 million corporate investment creates 98 new jobs.

“Mississippi’s outstanding reputation in the automotive industry is known worldwide,” Gov. Bryant said. “Calsonic Kansei’s addition of so many new jobs in Madison once again puts our state on the global stage. The expansion proves we have the workforce and business climate to ensure industry leaders like Calsonic enjoy years of success in Mississippi.”Read more...